Market Cap ₹4772 Cr.
Stock P/E 19.0
P/B 2.7
Current Price ₹291
Book Value ₹ 108.7
Face Value 10
52W High ₹740
Dividend Yield 1.21%
52W Low ₹ 240
MAS Financial Services Ltd is an India-based NBFC. The Company is engaged ordinarily in the enterprise of Financing and all its operations are only in India. The Company is focused on fulfilling the necessities of lower income and middle-income groups of the society. The Company offer diverse products, which include Micro Enterprise Loan (MEL); Two Wheeler Loan; Small and Medium Enterprises Loan; Commercial Vehicles Loan; Used Car Loan, and Tractor Loan. The Company's Small and Medium Enterprises Loan consists of Machinery Loan, Industrial Shed Loan, Working Capital Loan and Loans towards Property (LAP). A micro-employer under this loan class is mostly a small enterprise with a turnover ranging from 25 Lakhs to 2 Crores, engaged into production, trading or offerings. The Company's community has over 70 branches in important towns of Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamil Nadu and Karnataka, through which over 3200 centres are catered.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 180 | 192 | 205 | 241 | 261 | 279 | 292 | 310 | 340 | 346 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 3 | 2 | 1 |
| Total Income | 180 | 192 | 205 | 241 | 262 | 280 | 292 | 313 | 342 | 347 |
| Total Expenditure | 37 | 35 | 45 | 56 | 59 | 57 | 65 | 76 | 82 | 81 |
| Operating Profit | 143 | 157 | 160 | 185 | 203 | 222 | 227 | 237 | 261 | 266 |
| Interest Expense | 88 | 95 | 97 | 116 | 133 | 150 | 150 | 154 | 172 | 171 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit Before Tax | 55 | 62 | 62 | 68 | 69 | 72 | 77 | 83 | 87 | 94 |
| Provision for Tax | 14 | 15 | 16 | 17 | 17 | 15 | 19 | 21 | 23 | 24 |
| Profit After Tax | 41 | 46 | 46 | 51 | 52 | 57 | 58 | 62 | 64 | 70 |
| Adjustments | -0 | -1 | -0 | -1 | -1 | -1 | -1 | -1 | -1 | -1 |
| Profit After Adjustments | 41 | 46 | 46 | 50 | 51 | 56 | 57 | 61 | 64 | 69 |
| Adjusted Earnings Per Share | 2.5 | 2.8 | 2.8 | 3.1 | 3.1 | 3.4 | 3.5 | 3.7 | 3.9 | 4.2 |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 364 | 477 | 605 | 710 | 627 | 690 | 988 | 1288 |
| Other Income | 1 | 0 | 0 | 0 | 0 | 1 | 4 | 6 |
| Total Income | 365 | 477 | 605 | 710 | 628 | 691 | 991 | 1294 |
| Total Expenditure | 92 | 120 | 140 | 178 | 143 | 133 | 220 | 304 |
| Operating Profit | 273 | 357 | 465 | 532 | 485 | 559 | 772 | 991 |
| Interest Expense | 165 | 187 | 225 | 299 | 286 | 340 | 498 | 647 |
| Depreciation | 1 | 2 | 2 | 3 | 3 | 2 | 3 | 4 |
| Profit Before Tax | 106 | 168 | 238 | 230 | 196 | 217 | 272 | 341 |
| Provision for Tax | 37 | 63 | 83 | 62 | 50 | 55 | 66 | 87 |
| Profit After Tax | 69 | 105 | 155 | 168 | 146 | 161 | 206 | 254 |
| Adjustments | -1 | -1 | -1 | -1 | -1 | -2 | -3 | -4 |
| Profit After Adjustments | 69 | 104 | 154 | 167 | 144 | 159 | 203 | 251 |
| Adjusted Earnings Per Share | 5.1 | 6.4 | 9.4 | 10.2 | 8.8 | 9.7 | 12.4 | 15.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 43% | 12% | 16% | 0% |
| Operating Profit CAGR | 38% | 13% | 17% | 0% |
| PAT CAGR | 28% | 7% | 14% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 20% | 2% | 10% | NA% |
| ROE Average | 14% | 14% | 15% | 17% |
| ROCE Average | 11% | 11% | 13% | 14% |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 332 | 779 | 916 | 987 | 1180 | 1350 | 1519 |
| Minority's Interest | 14 | 12 | 19 | 19 | 20 | 23 | 26 |
| Borrowings | 361 | 523 | 1063 | 1553 | 2041 | 2858 | 4803 |
| Current Liability | 1271 | 1147 | 1496 | 1988 | 2057 | 2114 | 1980 |
| Other Liabilities & Provisions | 252 | 489 | 691 | 530 | 378 | 284 | -16 |
| Total Liabilities | 2231 | 2950 | 4185 | 5077 | 5677 | 6629 | 8311 |
| Loans | 738 | 2746 | 3483 | 3602 | 4063 | 4800 | 6246 |
| Investments | 0 | 0 | 0 | 0 | 165 | 441 | 313 |
| Fixed Assets | 9 | 58 | 13 | 15 | 12 | 14 | 17 |
| Other Loans | 146 | 3 | 129 | 0 | 0 | 0 | 1 |
| Other Non Current Assets | 9 | 0 | 46 | 48 | 50 | 52 | 58 |
| Current Assets | 1328 | 143 | 515 | 1413 | 1387 | 1322 | 1677 |
| Total Assets | 2231 | 2950 | 4185 | 5077 | 5677 | 6629 | 8311 |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 181 | 47 | 49 | 397 | 1046 | 987 | 285 |
| Cash Flow from Operating Activities | -164 | -386 | -468 | 196 | -578 | -805 | -1488 |
| Cash Flow from Investing Activities | -4 | -49 | 14 | 4 | -199 | -820 | -242 |
| Cash Flow from Financing Activities | 34 | 438 | 802 | 448 | 719 | 923 | 1684 |
| Net Cash Inflow / Outflow | -134 | 3 | 348 | 648 | -59 | -702 | -46 |
| Closing Cash & Cash Equivalent | 47 | 49 | 397 | 1046 | 987 | 285 | 239 |
| # | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 5.09 | 6.35 | 9.35 | 10.21 | 8.8 | 9.71 | 12.4 |
| CEPS(Rs) | 5.49 | 6.51 | 9.53 | 10.42 | 9.03 | 9.96 | 12.72 |
| DPS(Rs) | 3.12 | 3.66 | 5.1 | 8 | 1.5 | 3 | 3.65 |
| Book NAV/Share(Rs) | 21.98 | 47.52 | 55.83 | 60.19 | 71.95 | 82.32 | 92.61 |
| Net Profit Margin | 19.06 | 22.06 | 25.57 | 23.69 | 23.2 | 23.35 | 20.84 |
| Operating Margin | 74.59 | 74.43 | 76.58 | 74.54 | 76.89 | 80.65 | 77.86 |
| PBT Margin | 29.14 | 35.19 | 39.37 | 32.45 | 31.24 | 31.37 | 27.5 |
| ROA(%) | 3.11 | 4.06 | 4.33 | 3.63 | 2.71 | 2.62 | 2.76 |
| ROE(%) | 24.48 | 19.8 | 18.25 | 17.67 | 13.43 | 12.74 | 14.35 |
| ROCE(%) | 16.5 | 18.3 | 17.08 | 15.17 | 11.38 | 10.62 | 11.45 |
| Price/Earnings(x) | 0 | 31.19 | 20.2 | 17.19 | 32.34 | 18.36 | 21.61 |
| Price/Book(x) | 0 | 4.17 | 3.38 | 2.92 | 3.96 | 2.17 | 2.89 |
| Dividend Yield(%) | 0 | 0.62 | 0.9 | 1.52 | 0.18 | 0.56 | 0.45 |
| EV/Net Sales(x) | 3.73 | 9.74 | 8.2 | 6.52 | 11.41 | 9.4 | 9.84 |
| EV/Core EBITDA(x) | 4.97 | 13.03 | 10.68 | 8.7 | 14.77 | 11.62 | 12.59 |
| Interest Earned Growth(%) | 0 | 31.07 | 26.81 | 17.38 | -11.59 | 10.02 | 43.11 |
| Net Profit Growth | 0 | 51.75 | 46.98 | 8.72 | -13.42 | 10.77 | 27.68 |
| EPS Growth(%) | 0 | 24.94 | 47.17 | 9.16 | -13.76 | 10.3 | 27.65 |
| Interest Coverage(x) % | 1.64 | 1.9 | 2.06 | 1.77 | 1.68 | 1.64 | 1.55 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.62 | 73.64 | 73.71 | 73.73 | 73.73 | 73.73 | 73.73 | 73.73 | 73.73 | 73.73 |
| FII | 1.62 | 1.53 | 1.54 | 1.54 | 1.53 | 1.59 | 1.59 | 2.01 | 1.62 | 1.79 |
| DII | 9.95 | 9.46 | 9.39 | 10.2 | 11.04 | 11.01 | 10.58 | 8.57 | 8.43 | 14.41 |
| Public | 14.81 | 15.37 | 15.36 | 14.53 | 13.7 | 13.68 | 14.1 | 15.69 | 16.22 | 10.07 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 4.02 | 4.03 | 4.03 | 4.03 | 4.03 | 4.03 | 4.03 | 4.03 | 4.03 | 12.09 |
| FII | 0.09 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.11 | 0.09 | 0.29 |
| DII | 0.54 | 0.52 | 0.51 | 0.56 | 0.6 | 0.6 | 0.58 | 0.47 | 0.46 | 2.36 |
| Public | 0.81 | 0.84 | 0.84 | 0.79 | 0.75 | 0.75 | 0.77 | 0.86 | 0.89 | 1.65 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.47 | 5.47 | 5.47 | 5.47 | 5.47 | 5.47 | 5.47 | 5.47 | 5.47 | 16.4 |
Pros
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